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The emerging mobile payments market is far from mainstream adoption because consumers don’t yet see the value in it, according to a new report by Jefferies. “The biggest impediment to U.S. adoption of mobile wallets has been the lack of a consumer value proposition,” Jefferies analyst Jason Kupferberg said in a May 1 report. “According to a recent study by the Federal Reserve, only 2.3% of U.S. smartphone owners answered ‘definitely’ when asked if they expect to make a mobile payment at the (point of sale) in the next 12 months.” Consumers don’t see much of a difference between swiping a credit or debit card and simply waving or tapping a mobile device to make a payment, he said. “None of the mobile wallets we have seen to date has developed a strong enough value proposition to get consumers to change the form factor with which they pay, as the… Scalper1 News
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